While the Iran conflict has rocked the commodity sector, with oil prices spiking as gold prices have slid lower, demand for the yellow metal has remained strong and it has performed exactly as it should under the circumstances, according to James Steel, Chief Precious Metals Analyst at HSBC. “The demand has been good out of China,” Steel said. “The Shanghai Gold Exchange premium – the difference between the domestic price in China and the global price – is around $20, indicating strong domestic demand in China, which is mostly on the institutional side. It's interesting; it's less on jewelry and coins and small bars, ... (full story)